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GBPUSD: short volatility continues to fall
2022-08-16
1128
Fundamental analysis:
GBP / USD fluctuated around 1.20515. It is expected that the Bank of England will raise interest rates by 50 basis points again next month, but then it will slow down the pace of interest rate rise, raise interest rates by 25 basis points in November, and then press the pause button.
GBPUSD GBPUSD - 4-hour K-line chart shows:
Technical analysis:
According to the 4-hour chart, the short position of the market is good, and there is no sign of stopping the short-term decline. The market is still weak, the MACD index is in the weak downward trend of the short position, and the RSI index is in the lower side of the 50 equilibrium line;
Long and short turning point: 1.20678
Pressing position: 1.21005, 1.21304
Support position: 1.20221, 1.19989
Trading strategy: bearish below 1.20678, target 1.20221, 1.19989
Alternative strategy: bullish above 1.20678, target 1.21005, 1.21304
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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